Bed Bath & Beyond Announces Closure of All 54 Canadian Locations
According to reports, the troubled chain is scrambling to consolidate its assets in preparation for a possible bankruptcy filing.
Bed Bath & Beyond has announced the closure of all 54 of its Canadian locations, following the closure of 150 of its 1,000 American locations late last year and another 87 at the beginning of this month.
According to reports, the troubled chain is scrambling to consolidate its assets in preparation for a possible bankruptcy filing.
The company also owns all Harmon health and beauty store locations in the United States and has shut them down.
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“We are implementing actions to manage our business as efficiently as possible as we work with our advisors to consider multiple paths,” the company said in a statement last week, adding that it is analyzing its store footprint “based on a variety of factors.”
In late January, reports circulated that Bed Bath & Beyond might declare bankruptcy by the beginning of February after the company admitted it had defaulted on a loan from JP Morgan Chase and Co.
Prabhnoor Kaur
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